Update
HSBC Launches RedCoin on PayMe App
HSBC began rolling out RedCoin, its Hong Kong dollar stablecoin, on the PayMe app, which has 3.3 million users and 100,000 merchants. Eligible users can activate RedCoin wallets for payments, but the stablecoin can't move to HSBC's planned HK App wallet. Payment functionality is the initial use case, with tokenized investment subscriptions planned for later in 2026.